Creating Opportunities...Recognizing Excellence

2008 annual report

Dear Friends:The Women’s Business Enterprise National Council (WBENC) completed another year providing certification, opportunities, and resources to its Corporate Members and WBENC certified Women’s Business Enterprises (WBEs).

In 2008, WBENC and its Regional Partner Organizations (RPOs) created, managed, and implemented the

process and procedures maintaining WBENC’s Gold Standard certification, access to markets, and skill-building programs to enable the success of WBENC certified WBEs.

By year-end 2008, more than 8,100 women-owned businesses were granted WBENC certification; and 255 corporations supported WBENC as members. WBENC also named the Ohio River Valley Women’s Business Council as its new RPO providing certification and business access opportunities to WBEs in Ohio, Kentucky and West Virginia. These states were previously part of a six state territory managed by the Women’s Business Enterprise Council Southeast, which was realigned.

As part of the realignment, the State of Tennessee became part of Women’s Business Enterprise Council – South (WBEC-South), an established RPO that covers Louisiana, Mississippi, Alabama, and the northern panhandle of Florida. The States of North and South Carolina were merged under the Georgia Women’s Business Council (GWBC).

WBENC also worked to bring life to its new strategic plan focusing on the core values of certification, opportunities, and resources. The Power of Progress was the 2008 theme for WBENC’s Women in Business National Conference and Business Fair held in Atlanta, Georgia where WBENC had nearly 2,500 attendees and 333 exhibitors. The GWBC set a new attendance standard as the Host Council for this event.

Throughout the year, Michelle Richards and Nancy Williams provided innovation and leadership as Chairs of the Leadership Council and the Women’s Enterprise Leadership Forum. Through the leadership of Michelle and Nancy, the RPOs and the Forum help to build infrastructures and implement processes that better serve the needs of WBENC and its constituents. Both, the Leadership Council and the Forum, are key WBENC leadership teams that help to deliver WBENC’s commitment to its constituents.

Guided by the Global Business Committee and Quantum Leaps, WBENC continued to expand its global initiatives to include training, resources, and partners. Hosting its second International Day, WBENC provided a series of workshops geared to helping

Letter from the chair and the President

Cheryl Stevens, WBENC

Board Chair

Linda J. Denny, President and CEO, WBENC

PHO

TO C

OU

RTE

SY O

F W

OM

EN’S

EN

TERP

RISE

PU

BLI

CAT

ION

S A

ND

WE

MA

GA

ZIN

ES.

PHO

TO C

OU

RTE

SY O

F W

OM

EN’S

EN

TERP

RISE

PU

BLI

CAT

ION

S A

ND

WE

MA

GA

ZIN

ES.

WBEs increase their capacity to globally grow their businesses. A memo of understanding was signed on that day to launch WEConnect International as the official organization to develop international WBE certification programs.

WBENC also made phenomenal strides in the area of technology, with a datacenter migration, which provided added security to our network and data. These enhancements keep WBENC technologically competitive, and provide the ability to better serve constituents more effectively and efficiently.

In honor and recognition of the outstanding leadership and service of Mr. William J. Alcorn, first and past WBENC Chair, WBENC also established the William J. Alcorn Leadership Award. Mr. Alcorn, Senior Vice President, Controller, and Chief Procurement Officer, retired in May 2008 from JCPenney Company, after 37 years of service. The William J. Alcorn Award recipient is selected and presented by the Chairman of the WBENC Board of Directors, with input from Past Chairs and WBENC Executive Staff.

In short, 2008 was an exceptional year. WBENC built its first decade of accomplishments by continuing to raise awareness of the importance of certification; advocate for women business owners; encourage supplier diversity best practices; strengthen the relationships with our Corporate Members, our WBENC certified WBEs, and our Regional Partner Organizations; and encourage alliances with other organizations that support women business owners.

Finally, thanks to WBENC’s Staff, Board of Directors, and leadership teams, WBENC certification continues to retain the Gold Standard prestige and value consistently demanded by Corporate Members and women business owners. In addition, WBENC will continue to provide the highest quality in programs, training and services to its constituents.

With warm regards,

Cheryl Stevens Linda J. Denny Vice President Supplier Diversity President and CEO Energy Future Holdings WBENC

Chair, WBENC Board of Directors

page 2

In keeping with its leadership role in advancing the success of both women’s business enterprises and the corporations they serve, WBENC announced its ninth annual list of America’s Top Corporations for Women’s Business Enterprises at a ceremony in Washington, DC.

WBENC President and CEO, Linda Denny and Top Corporations Selection Panel Chair, Connie Rankin, President, Customized Real Estate Services presented the awards during this prestigious ceremony.

The Top Corporations application and review process validates supplier diversity best practices of companies that have:

· Successfully demonstrated substantive commitment, both qualitatively and quantitatively, to enhancing contracting opportunities for women business enterprises (WBEs).

· Successfully demonstrated that they continually “raise the bar” with respect to implementing and innovating best practices in purchasing from WBEs.

· Accomplished more than others in corporate America, and their industry in particular, to proactively integrate women’s business enterprises at all levels within their supply chain.

The 2008 list recognizes 19 corporations that have met these goals and who serve as role models to other companies:

Note: “( )” indicates number of years companies have received award.

america’s toP corPorations for Women’s Business enterPrises

page 3

Front Row - Left to Right: Lauventria Robinson,Vice President, Diversity Business Development, The Coca-Cola Company; Tanya Penny, Vice President, Sourcing and Procurement, Verizon; Monica Luechtefeld, Executive Vice President, ECommerce and Direct Marketing, Office Depot; Francene Young, Vice President Diversity, Inclusion and Talent, Shell Oil Company; Kathy Homeyer, Director, Supplier Diversity, UPS; Lisa Martin, Senior Vice President and Chief Procurement Officer, Pfizer Inc; Cynthia Marshall, AT&T State President, AT&T; Martha Artiles, Chief Diversity Officer, Manpower, Inc.; Betsy Hosick, General Manager Midstream Procurement, Chevron Corporation; Martha Rangel, Senior Vice President, Supplier Development, Bank of America Supply Chain Management.

Back row – left to right: Connie Rankin, President of Customized Real Estate Services and Chair of the America’s Top Corporations for WBEs Selection Panel; Anthony Carter, Vice President, Diversity and Inclusion, Johnson & Johnson; Jens Gruenkemeier, Director, Global Procurement, Dell; John Young, CEO, Energy Future Holdings; Tom Gartland, EVP, Sales & Marketing, Avis Budget Group; Mitchell Adamek, Senior Vice President & Chief Procurement Officer, PepsiCo, Inc.; Kevin Campbell, Group Chief Executive-Outsourcing, Accenture; Nick DeTura, Senior Vice President Quality Assurance and Customer Care, Alcatel-Lucent; Linda Denny, President and CEO, WBENC.

Accenture (1)

Alcatel-Lucent (2)

AT&T Inc. (9)

Avis Budget Group, Inc. (9)

Bank of America (7)

Chevron (7)

Dell (1)

Energy Future Holdings (9)

Exxon Mobil Corporation (3)

IBM (6)

Johnson & Johnson (2)

Manpower Inc. (1)

Office Depot (8)

PepsiCo, Inc. (8)

Pfizer Inc (5)

Shell Oil Company (7)

The Coca-Cola Company (4)

UPS (9)

Verizon (4)

The 2008 Women Business Enterprise Stars are:

Michelle Boggs• , Chief Executive Officer, McKinley Marketing Partners, Representing Women Presidents’ Educational Organization – DC – Washington, DC www.mckinleymarketingpartners.com

Julie Copeland• , President and CEO, Arbill Safety Products, Representing Women’s Business Enterprise Council – PA-DE-sNJ – Philadelphia, PA www.arbill.com

Lori Davis• , President, RIG-CHEM, Inc., Representing Women’s Business Council Gulf Coast – New Orleans, LA www.rigchem.com

Lynne Marie Finn• , President, Superior Staff Resources, Inc., Representing Women Presidents’ Educational Organization – NY – New York City, NY www.superior-sdc.com

Carolyn Gable• , President, New Age Transportation, Distribution & Warehousing Inc., Representing Women’s Business Development Center – Chicago – Chicago, IL www.newagetransportation.com

Margarita Gonzalez• , CEO, AccuBANKER, Representing Women’s Business Development Center – Florida – Miami, FL www.accubanker.com

2008 Women’s Business enterPrise stars

page 4

On March 20, 2008, WBENC celebrated its 11th Salute to Women’s Business Enterprises: The Power of Progress, which was held at the Marriott Wardham Park Hotel in Washington, DC. The 2008 Salute was attended by over 700 Corporate Members, women business enterprises, government officials, and journalists. The black-tie dinner and awards program was chaired by Tim McBride, Chief Procurement Officer, Microsoft.

Designed to recognize the contributions of women’s business enterprises (WBEs) to the U.S. economy, the Salute also recognized 14 WBEs as the 2008 Women’s Business Enterprise Stars. This elite cadre of WBENC certified women business enterprises were honored for their leadership in their local business communities, their inspiration to other women business owners, and their active roles at the helm of their successful certified businesses.

Left to right: Andra Rush, Owner, Rush Trucking; Pamela O’Rourke, President, ICON Information Consultants, LP; Nancy Williams, Principal, ASAP; Linda Denny, President and CEO, WBENC; Kathy White, CEO, Facilitech Inc.; Michelle Boggs, Chief Executive Officer, McKinley Marketing Partners; Carolyn Gable, President, New Age Transportation, Distribution & Warehousing Inc.; Lori Davis, President, RIG-CHEM, Inc.; Lynne Marie Finn, President, Superior Staff Resources, Inc.; Margarita Gonzalez, CEO, AccuBANKER; Michele Finn Johnson, President, Artemis Consulting Group, Inc.; Roxann Patrick, President, Designed Solutions Group, Inc.; Sandy Lish, Principal/Founder, The Castle Group, Inc.; Olsa Martini, President, Olsa Resources, Inc. and Julie Copeland, President and CEO, Arbill.

Michele Finn Johnson• , President, Artemis Consulting Group, Inc., Representing Women’s Business Enterprise Council – West – Phoenix, AZ www.artemisgroup.net

Sandy Lish• , Principal/Founder, The Castle Group, Inc., Representing the Center for Women & Enterprise – Boston, MA www.thecastlegrp.com

Olsa Martini• , President, Olsa Resources, Inc., Representing Astra Women’s Business Alliance – Portland, OR www.olsaresources.com

Pamela O’Rourke• , President, ICON Information Consultants, LP, Representing the Women’s Business Enterprise Alliance – Houston, TX www.iconconsultants.com

Roxann Patrick• , President, Designed Solutions Group, Inc., Representing Women’s Business Enterprise Council – Southeast – Columbus, OH www.designed-solutions.com

Andra Rush• , Owner, Rush Trucking, Representing Michigan Women’s Business Council – Ann Arbor, MI www.rushtrucking.com

Nancy Williams• , Principal, ASAP, Representing Georgia Women’s Business Council – Atlanta, GA www.asapstaffingllc.com

Kathy White• , CEO, Facilitech Inc., Representing Women’s Business Council –Southwest – Arlington, TX www.businessinteriors.com

2008 Salute Chair Microsoft

2008 Salute SponsorsAdco Electrical Corporation

Andavo

Arbill

ASAP

Avis Budget Group

Chevron Corporation

Energy Future Holdings (formerly TXU Corp.)

Ford Motor Company

Henegan Construction Co., Inc.

Hollister Construction Company

Johnson & Johnson

KMM Telecommunications

KPMG

Kraft Foods

Matrix Information Consulting, Inc.

MDI

Meadows Office Furniture Co.

Merrill Lynch & Co., Inc.

Office Depot

PepsiCo, Inc.

Pfizer Inc

Plastic Diversity Solutions, LLC

Raytheon Company

RIG-CHEM, Inc.

Shell Oil Company

SPG & Associates, LLC

SSI Global Group, Inc.

Superior Staff Resources, Inc.

TCIM Services, Inc.

Toyota

Tuck Class of “07”

Turner Construction Company

United Airlines, Inc.

UPS

Verizon

Welcome Florida, Inc.

Women’s Business Enterprise Council – PA-DE-sNJ

page 5

2008 Women’s Business enterPrise stars (continued)

Gail Warrior-Lawrence, President and Chief Executive Officer, Warrior Group laughs her way to a winning bid during the Live Auction held at the 2008 Salute to Women’s Business Enterprises.

The organizations and their leaders who were honored in 2008 are:

Michelle Richards, President Women’s Business Enterprise Council – Great Lakes

Roz Lewis, Executive Director, Georgia Women’s Business Council and Host Council for the 2008 Women in Business National Conference and Business Fair

Diane McClelland, President Astra Women’s Business Alliance

Linda Paugh, Board Vice Chair and Acting Interim Director

Women’s Business Enterprise Council – West

Debbie Hurst, President Women’s Business Council – Southwest

Geri Swift, President Women’s Business Enterprise Council – PA-DE-sNJ

Carol Dougal, Co-President Women’s Business Development Center – Chicago

Marsha Firestone, President Women Presidents’ Educational Organization – NY

Nancy Allen, President and CEO Women’s Business Development Center – FL

Susan Repka, Executive Director Women’s Business Enterprise Alliance

Blanca Robinson, Executive Director Women’s Business Enterprise Council-South

Donna Mullen Good, CEO Center for Women & Enterprise

Liz Cullen, Executive Director Women Presidents’ Educational Organization – DC

2008 aPPLause aWard

page 6

Introduced in 1999, the Applause Award recognizes and “applauds” significant accomplishments that further WBENC’s efforts of breaking down barriers that impede the progress and growth of women-owned businesses. In 2008, WBENC bestowed its Applause Award to its 13 Regional Partner

Organizations, the 13 RPOs across the country that implement WBENC’s Gold Standard of certification to women’s business enterprises that are 51 percent woman owned, operated and controlled; and provide business development opportunities:

Left to Right: Linda Denny, President and CEO, WBENC; Michelle Richards, President, Women’s Business Enterprise Council – Great Lakes; Diane McClelland, President, ASTRA Women’s Business Alliance; Linda Paugh, Board Vice Chair and Acting Interim Director, WBEC – West, Debbie Hurst, President, Women’s Business Council – Southwest, Geri Swift, President, Women’s Business Enterprise Council – PA-DE-sNJ; Carol Dougal, Co-President, WBDC – Chicago; Camille Burns, Vice President, Operations, Women Presidents’ Organization; Nancy Allen, President and CEO, Women’s Business Development Center – Florida; Susan Repka, Interim Executive Director, WBEA; Blanca Robinson, Executive Director; Women’s Business Enterprise Council – South; John D. Harris, II, Vice President, Contracts & Supply Chain, Raytheon Company; and Liz Cullen, Women Presidents’ Educational Organization.

The Power of Progress

Corporate Leaders and Women Business Enterprises convened from June 23rd to June 26th in Atlanta, Georgia for WBENC’s ninth Women in Business National Conference and Business Fair (WIB2008) The Power of Progress. Held at The Georgia World Congress Center, WIB2008 featured 333 exhibitors and hosted nearly 2,500 attendees.

Conference Corporate Co-Chairs The Home Depot and UPS, and WBE Co-Chairs Accel Inc. and ASAP were joined by dozens of other corporate and WBE sponsors including, among others, BP America, Inc., Dell Inc., and Time Warner.

WIB2008 Corporate kick-off keynote addresses were provided by Lyne Castonguay, Vice President of Multicultural Merchandising and Marketing at The Home Depot; and Amy Whitley, Vice President, Organizational Development, UPS.

Georgia Host CommitteeAvion Systems, Inc. (Honorary ChairGeorgia Host Committee)

All(n)1 Security Services, Inc.

Bennett International Group

BG Strategic Solutions, LLC

Exhibits South Corporation

Hollister Construction

ISHR Group

McPherson, Berry & Associates, Inc.

MDI

Mom Corps

The Brand Coach

The Robart Companies

Transport Global Logistics Inc.

Host Council Georgia Women’s Business Council

page 7

2008 Women in Business nationaL conference and Business fair

Left to Right: Gerri Willis, Anchor, CNN’s Open House; Greta Davis, Executive Director, Supplier Diversity, Time Warner Inc.; Tara Abraham, CEO, Accel Inc. and WIB2008 WBE Co-Chair, Lisa Hanlon; Principal, Teltech Communications, Inc.; Laura Reiling, Business Manager, Corporate Procurement, Chevron Corporation; Linda Denny, President and CEO, WBENC; Cheryl Stevens, Vice President Supplier Diversity, Energy Future Holdings and WBENC Board Chair; Bob Bouta, Senior Vice President, Facilities and Properties, Avis Budget Group; Pamela Chambers O’Rourke, President and CEO, ICON Information Consultants, LP; Lisa A. Johnson, Group Manager, Procurement Services, UPS and WIB2008 Corporate Co-Chair; Susan O’Farrell, VP Procurement & Asset Management, The Home Depot and WIB2008 Corporate Co-Chair; Roz Lewis, Executive Director, Georgia Women’s Business Council; Kanchana Raman, President and CEO, Avion Systems, Inc. and Honorary Chair Georgia Host Committee; The Honorable Lorely Burt, Member of Parliament, United Kingdom; and Nancy Williams, Principal, ASAP and WIB2008 WBE Co-Chair (Not Pictured - Roz Alford, Principal, ASAP and WIB2008 WBE Co-Chair.)

page 8

WIB2008 Sponsors

Co-ChairsThe Home Depot

UPS

ASAP

Accel Inc.

Featured SponsorsBP America

Dell Inc.,

Time Warner

Contributing PartnersAflac

Altria Group, Inc.

Archer Daniels Midland Company

Avis Budget Group

Bank of America

Chevron Corporation

Exxon Mobil Corporation

Georgia-Pacific

Hollister Construction

IBM

ICON Information Consultants, LP

Kraft Foods

Manpower, Inc.

Paralelles

PepsiCo, Inc.

Pfizer Inc

Pitney Bowes, Inc.

Raytheon Company

Shell Oil Company

SMEAD Manufacturing Company

Sprint Nextel Corporation

Superior Staff Resources, Inc.

Target

Teltech Communications, LLC

Verizon

Wal-Mart Stores, Inc.

WIB2008 keynote speakers included Bernice A. King, internationally-renowned orator, author of Hard Questions, Heart Answers, ordained minister, lawyer, and youngest daughter of the late Coretta Scott King and Dr. Martin Luther King, Jr.; Chin-Ning Chu author of the international best-selling books: Do Less, Achieve More; Thick Face, Black Heart; The Asian Mind Game and Working Woman’s Art of War with translations in 17 languages and president of the Strategic Learning Institute and the Asian Marketing Consultants, Inc.; and Nancy Kramer, Founder and CEO, Resource Interactive, an expert in technology marketing, and an early leader in digital marketing and design.

Politics were front and center in 2008 with Barbara Kasoff, President of Women Impacting Public Policy (WIPP) moderating Setting the Small Business Agenda. In addition to an up-to-the-minute election update, Kasoff addressed the role of women-owned businesses in the elections, the transition plan for a new administration, and the “Small Business Platform.”

Riveting workshops addressed key business issues facing both corporations and WBEs, among them Why Going Green Equals Gold ; Top 5 Game Changing Ideas for Supplier Diversity; Strategy for High Growth WBEs; Challenges and Solutions in Second Tier, and Expanding Your Supplier Diversity Program Globally.

WBENC’s MatchMaker meetings connected Corporate Purchasing officials and WBEs for approximately 300 private face-to-face 15-minute meetings to discuss potential opportunities. In addition, WBENC’s WIB2008 Business Fair gave attendees a first hand look at WBENC certified WBEs exhibiting their companies’ capabilities, as well as an opportunity to meet Corporate Supplier Diversity Representatives and Buyers without barriers.

With three days of high-profile keynote speakers, information-rich workshops and business-building opportunities, WIB is a core initiative dedicated to achieving WBENC’s mission to advance the success of our Corporate Members and WBENC certified WBEs.

page 9

Joint Program of WBENC and the Women Presidents’ Organization

A joint initiative between the Women’s Business Enterprise National Council (WBENC) and the Women Presidents’ Organization (WPO), The Zenith Group was formally launched in 2005 for women-owned businesses with revenues of $50 million and above.

As a result of compression in the corporate supply chain, larger women business enterprises were asked to serve as a resource and a dynamic forum to provide business development and sourcing insights to major corporations.

Together, The Zenith Group:

Conducts high-level business meetings to promote 1. business development opportunities with Fortune 1,000 companies.

Works to change the way women-owned 2. businesses are perceived in corporate America and the media.

Develops cutting edge information and strategies 3. for successful and fast growth companies.

Led by Linda Denny, WBENC President and CEO, and Marsha Firestone, Ph.D., WPO President and Founder, The Zenith Group meets three times a year throughout the country. The group is facilitated by Barbara Roberts of Roberts & Company. Meeting topics include growth issues; global expansion; exit strategies and succession planning; finding and developing good people; and economic, demographic, scientific, and political trends that may affect business.

the Zenith GrouP

Gina Addeo Chairman of the Board ADCO Electrical Corporation

Sarah Bates CEO/Chairman Nu Tek Steel, LLC

Gloria Bohan President & CEO Omega World Travel

Carmen Castillo President & CEO Superior Design International

June Coldren President Cenergy International Services

Linda Drake CEO TCIM Services

Rosalie Edson President/Owner Meadows Office Furniture

Maureen Henegan CEO Henegan Construction Co., Inc

Margery Kraus CEO APCO Worldwide

Mercedes LaPorta Mercedes Electric Supply

Brenda Rivers CEO Andavo Travel

Andra Rush Owner Rush Trucking Corporation

Sandy Solomon President/CEO/Owner Sweet Street Desserts, Inc.

For the sixth year, WBENC partnered with the Tuck School of Business at Dartmouth in 2008 to offer a one-week intensive executive education program for WBENC certified women’s business enterprises (WBEs). Thirty-six WBEs were taught by top professors from Tuck. Designed to teach women business owners a systematic way of assessing and improving their businesses, the Tuck-WBENC Executive Program provided WBEs with tools to develop and implement strategic initiatives to grow small-to medium-sized enterprises.

The program focuses on achieving maximum impact for WBEs with the primary case study used being that of the WBE’s own business. Collaborative learning groups challenge WBEs to creatively use the curriculum tools to assess and improve their businesses, using the same diagnostic and implementation strategies examined in the classroom setting. Participants take away a wealth of knowledge that is immediately applicable, plus a strong network of new professional relationships and peer support.

page 10

Katrin Antram, PC Network

Julie Auslander, Corporate Subscription Management Services

Lorraine Bergman, Caliente Construction, Inc.

R. Yvonne Campos, Campos, Inc.

Lu Cotta, Annapolis Accommodations, Inc.

Amy Dain Vincelette, The Wellspring Group

Alison Davis, Davis & Company

Mary Glasscock, Glaco Midwest, Inc.

Linda John, Corporate Family Network

Diedria Joseph, Topp Knotch Personnel, Inc.

Catherine Koch, K-Tec Systems, Inc.

Cecelia Lakatos Sullivan, Pinnacle Telecommunications, Inc.

Cheryl Ludwick, Alaron Supply Company

Linda Magnusson-Rosario, InSys Consulting

Patricia May, Precision Language Services

Emily McHugh, Casauri

Michele McKenna, Market Analytics International

Audreya McLean, Qualified Homecare Services, Inc.

Jayne Millard Clark, Turtle & Hughes

Reshma Moorthy, Frontier Technologies, Inc.

Mary Moslander, LiveHealthier

Melissa Peirce, The Wellspring Group

Penny Perez, Malco Contracting, Inc.

Pamela Robinson, Financial Voyages LLC

Darlene Rotch, Panorama Public Relations

Shelli Ryan, Ad Hoc Communication Resources, LLC

Pamela Ryan, Designer Sports LLC

Joanne Santomauro, ISG Office Concepts, Inc.

Valerie Shondel, SelectoFlash, Inc.

Nidhi Sinha, Database Mining Lab

Lisa Somerville, Restor Telecom, Inc.

Carolyn Sutton, Clover Global Solutions, LP

Julie Valdez, Pacific Supply & Safety, LLC

Sandra Webster, Consultants 2 Go

Carol Williams, Trendsetter Electronics

Laura Zekoll, Advantage Computer Age, Inc

2008 Tuck-WBENC Executive Education Sponsors

Underwriter IBM

Major Sponsor AT&T

Supporters

MasterCard

Merck & Company

Microsoft

Office Depot

Pfizer

Target

The Home Depot

UPS

the tucK-WBenc executive ProGramBrought to you by IBM

2008 WBENC Certified WBE Participants

page 11

Bank of America, its communities and its extended family of suppliers and business partners suffered a great loss in July 2002 with the passing of Dorothy Brothers, Supplier Diversity & Development executive and WBENC board member. Dorothy Brothers founded the Executive Management Scholarship Program in order for women business owners to have access to the same high caliber management education that is available to Fortune 500 companies.

As a tribute to Dorothy’s accomplishments in helping diverse suppliers grow and successfully participate in competitive bid opportunities, WBENC, with the support of Bank of America, established the Dorothy B. Brothers Executive Scholarship.

This program provides diverse executive suppliers with the educational development that will help them grow and successfully compete in corporate supply chains.

In 2008, 14 business owners received scholarships of up to $4,500 each to attend an advanced management program of their choice. The 2008 Dorothy B. Brothers Executive Scholarship awardees are:

2008 Recipients

WBEC – Great Lakes Bridgette Lemberg, Forensic Fluids Laboratories Inc.

Southeast Region Annette Tarver, Blackwell Consulting Services of Ohio, LLC

Tara Abraham, Accel Inc. WBC – Southwest Deborah Wright, Phoenix Translations WBDC – Chicago Linda Boasmond, Cedar Concepts Corporation

WBDC – Florida Tanya Williams, T. Wynne Art & Design

Ann Duncan, Vertical Intergration WBEC – PA, DE, sNJ Michele McHenry, Laser Lab WPEO – DC Susan Wilson, The Judgment Group WBEC – West Melissa Huang, Elementi Designs, Inc.

WPEO – NY Laura Allen, Vision Education & Media

Eileen Cleary, Atlas Data Systems

Doreen Gebbia, eRichards Consulting

Valerie Shondel,

SelectoFlash

dorothy B. Brothers executive schoLarshiPBrought to you by Bank of America and its suppliers

2008 Dorothy B. Brothers Executive Scholarship Program Contributors

Alliance One Inc.

BMC Software Inc.

Brinks

CompView

Diebold

Fidelity Investments

First Rate

FMA Alliance

Harland Clarke

Interthixecutivenx, Inc.

Kx Systems

LandAmerica

Lee Hecht Harrison, LLC

Microstrategy, Inc.

National Enterprise Systems

Northstar Location Services, LLC

Paradysz Matera Company, Inc.

Pfizer Inc

Premier Global Services

Regulus Integrated Solutions

Sunrise Credit Services, Inc.

United Guaranty Corporation

WOMEN'S BUSINESS ENTERPRISE NATIONAL COUNCIL, INC. STATEMENT OF FINANCIAL POSITION

December 31, 2008 (With Summarized Financial Information for December 31, 2007)

2

2008 2007ASSETS

CURRENT ASSETSCash and cash equivalents $ 236,436 $ 474,056Accounts receivable, net of allowance for doubtful accounts of approximately $40,000 in 2008 and $30,000 in 2007 1,223,584 1,785,600Unconditional promises to give 298,075 363,125Prepaid expenses 304,986 241,537Other 27,953 17,318

TOTAL CURRENT ASSETS 2,091,034 2,881,636

FIXED ASSETS, net 181,478 124,531

RESTRICTED CASH 825,452 417,382

DEPOSIT 17,104 17,104

CASH SURRENDER VALUE OF LIFE INSURANCE 41,222 21,874

TOTAL ASSETS $ 3,156,290 $ 3,462,527

LIABILITIES AND NET ASSETS (DEFICIT)

CURRENT LIABILITIESAccounts payable and accrued expenses $ 350,972 $ 627,592Borrowings under line of credit -0- 300,000Deferred rent 13,711 4,861Deferred revenue 2,220,440 2,977,925

TOTAL CURRENT LIABILITIES 2,585,123 3,910,378

DEFERRED COMPENSATION PAYABLE 41,222 21,874

DEFERRED RENT, net of current portion 48,611 62,322

TOTAL LIABILITIES 2,674,956 3,994,574

NET ASSETS (DEFICIT)Unrestricted net deficit (478,671) (1,193,595) Temporarily restricted net assets 886,905 588,448 Permanently restricted net assets 73,100 73,100

TOTAL NET ASSETS (DEFICIT) 481,334 (532,047)

TOTAL LIABILITIES AND NET ASSETS (DEFICIT) $ 3,156,290 $ 3,462,527

The accompanying notes are an integral part of these financial statements.page 12

The information presented here is derived from financial statements audited by Drolet & Associates, PLLC. Copies of the audited statements may be obtained by sending an e-mail request to controller@wbenc.org.

WOMEN'S BUSINESS ENTERPRISE NATIONAL COUNCIL, INC. STATEMENT OF ACTIVITIES

For the Year Ended December 31, 2008 (With Summarized Financial Information for the Year Ended December 31, 2007)

3

Temporarily Permanently 2008 2007Unrestricted Restricted Restricted Total Total

REVENUE

Membership dues $ 3,333,349 $ 3,333,349 $ 3,049,525Contributions 147,780 $ 330,970 478,750 815,771Exhibitor fees 550,980 550,980 366,501Conference fees 604,949 604,949 492,642Sponsorships 3,186,686 3,186,686 3,153,938Grants 16,572 16,572 30,000Interest income 16,169 9,737 25,906 20,506Global Business Initiatives 10,834 10,834 177,500Certification fees 257,200 257,200 -0- Other income 276,349 276,349 242,579Net assets released from restrictions 58,822 (58,822) -0- -0-

TOTAL REVENUE 8,443,118 298,457 $ -0- 8,741,575 8,348,962

EXPENSES

Program services 5,756,006 5,756,006 6,265,546 Management and general 1,439,496 1,439,496 1,932,212 Fundraising 532,692 532,692 558,568

TOTAL EXPENSES 7,728,194 -0- -0- 7,728,194 8,756,326

CHANGE IN NET ASSETS (DEFICIT) 714,924 298,457 -0- 1,013,381 (407,364)

NET (DEFICIT) ASSETS, BEGINNING OF YEAR (1,193,595) 588,448 73,100 (532,047) (124,683)

NET (DEFICIT) ASSETS, END OF YEAR $ (478,671) $ 886,905 $ 73,100 $ 481,334 $ (532,047)

The accompanying notes are an integral part of these financial statements.

page 13

The information presented here is derived from financial statements audited by Drolet & Associates, PLLC. Copies of the audited statements may be obtained by sending an e-mail request to controller@wbenc.org.

WOMEN'S BUSINESS ENTERPRISE NATIONAL COUNCIL, INC. STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2008 (With Summarized Financial Information for the Year Ended December 31, 2007)

4

2008 2007

CASH FLOWS FROM OPERATING ACTIVITIES:

CHANGE IN NET ASSETS $ 1,013,381 $ (407,364)

Adjustments to reconcile change in net assets to net cash

provided by operating activities:

Depreciation and amortization 56,354 41,647 Loss on disposal of fixed assets 4,441 12,613 Decrease in accounts receivable 562,016 643,866 Decrease in unconditional promises to give 65,050 237,725

(Increase) decrease in prepaid expenses (63,449) 103,695 Increase in other assets (10,635) (17,318) Increase in security deposits -0- (1,450)

(Decrease) increase in accounts payable and accrued expenses (276,620) 362,146 Decrease in deferred revenue (757,485) (881,575)

(Decrease) increase in deferred rent (4,861) 3,647

NET CASH PROVIDED BY OPERATING ACTIVITIES 588,192 97,632

CASH FLOWS FROM INVESTING ACTIVITIES:

Increase in Dorothy Brothers Scholarship Fund (408,070) (83,265) Purchases of fixed assets (117,742) (130,219)

NET CASH USED IN INVESTING ACTIVITIES (525,812) (213,484)

CASH FLOWS FROM FINANCING ACTIVITES:

Borrowings under line of credit -0- 300,000 Repayments under line of credit (300,000) -0-

NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (300,000) 300,000

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (237,620) 184,148

CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 474,056 289,908

CASH AND CASH EQUIVALENTS, END OF YEAR $ 236,436 $ 474,056

SUPPLEMENTAL DISCLOSURES

NONCASH INVESTING AND FINANCING ACTIVITIES

Surrender of life insurance policy for deferred compensation $ -0- $ 433,043

The accompanying notes are an integral part of these financial statements.

page 14

The information presented here is derived from financial statements audited by Drolet & Associates, PLLC. Copies of the audited statements may be obtained by sending an e-mail request to controller@wbenc.org.

Officers

Cheryl Stevens, Chair Vice President Supplier Diversity Energy Future Holdings

Joan Kerr, Vice Chair Executive Director, Supplier Diversity Programs AT&T

Pamela Eason, Treasurer Vice President, Worldwide Procurement Pfizer Inc

Tanya Penny, Secretary Vice President, Procurement Verizon

Linda J. Denny, ex-officio President & CEO WBENC

Jorge Romero, ex-officio Counsel to the Board Partner K & L Gates

Committees

Finance Committee Pam Eason Vice President, Worldwide Procurement Pfizer Inc

Audit Committee Barbara Carbone Partner in Charge Audit, Northern California KPMG

Leadership Council Michelle Richards President Women’s Business Enterprise Council-Great Lakes

Women’s Enterprise Leadership Forum Nancy Williams Principal ASAP

Program Committee Audrey Goins Brichi Manager of Strategy, Planning & Coordination for MidStream Operations Chevron Corporation

Development Committee Theresa Harrison Director of Supplier Diversity Ernst & Young, LLP

Supply Chain Committee Laurie Acreman Strategic Improvements Manager, Global Procurement ExxonMobil

Global Business Committee Joan Kerr Executive Director, Supplier Diversity Programs AT&T

National Certification Committee Nancy Conner Manager, Supplier Diversity W. W. Grainger

Marketing Committee Debra Jennings Johnson Director, Supplier Diversity BP America, Inc.

Technology Committee Benita Fortner Director, Supplier Diversity Raytheon Company

Ethics Committee Mary Tacher Vice President, Acting General Counsel JCPenney Company

2008 Ad Hoc Committees and Task Forces

Strategic Planning Scott Buchanan Vice President Worldwide Other Goods & Services Procurement PepsiCo, Inc.

Governance Lynn Scott Senior Director Supplier Diversity Alcatel-Lucent

Allocations Review Barbara Carbone Partner in Charge Audit, Northern California KPMG

C3 Task Force Laurie Acreman Strategic Improvements Manager, Global Procurement ExxonMobil

Directors (alphabetical by company)

Alcatel-Lucent Senior Director Supplier Diversity Lynn Scott

Altria Senior Manager, Purchasing, Quality & Compliance Diane Pinkney

ASAP Principal Nancy Williams

Avis Budget Group, Inc. Vice President Strategic Business & Diversity Relations Lynn Boccio

Bank of America Executive Vice President Strategic Sourcing Executive, Supplier Diversity Joseph Hill

BP America, Inc. Director, Supplier Diversity Debra Jennings-Johnson

Chevron Corporation Manager of Strategy, Planning & Coordination for MidStream Operations Audrey Goins Brichi

Dell Inc. Director of Worldwide Procurement Melinda Painter

Ernst & Young, LLP Director of Supplier Diversity Theresa Harrison

ExxonMobil Strategic Improvements Manager, Global Procurement Laurie Acreman

Ford Motor Company Director, Supplier Diversity Development Armando Ojeda

page 15

WBenc Board of directors

Georgia Women’s Business Council Executive Director Roz Lewis

Halliburton Vice President and Corporate Secretary Sherry Williams

IBM Program Director, Global Supplier Diversity Integrated Supply Chain Michael K. Robinson

ICON Information Consultants President & CEO Pamela Chambers O’Rourke

JCPenney Company Vice President, Acting General Counsel Mary Tacher

JP Morgan Chase & Co. Vice President Corporate Business Services Harvey Butler

Johnson & Johnson Vacant

KPMG Partner in Charge Audit, Northern California Barbara A. Carbone

LanguageSpeak, Inc. President & CEO Annette Taddeo

Leslie Saunders Insurance President and CEO Leslie Saunders

Macy’s Operating Vice President - Purchasing and Supplier Diversity Howard Thompson

Management Decisions, Inc. CEO Ella Koscik

Manpower, Inc. Director, Supplier Diversity & Vendor Operations Kathy Greco

MBE Magazine Publisher Ginger Conrad

Metro Home NYC LLC President Linda Coughlin

Microsoft GM, Chief Procurement Officer Tim McBride

Motorola, Inc. Vice President, Electrical Procurement Janet Robinson

Neutral Posture, Inc. CEO and Chairman of the Board Rebecca Boenigk

Office Depot Manager, Vendor Development Shari Francis

PepsiCo, Inc. Vice President Worldwide Other Goods & Services Procurement Scott Buchanan

Pitney Bowes Vice President Enterprise Procurement Strategy and Operations Laura Taylor

Raytheon Company Director, Supplier Diversity Benita Fortner

SB Services, Inc. Principal, CPA, CVA Sharon Castillo

Shell Oil Company Manager, Corporate Supplier Diversity Patricia Richards

Superior Staff Resources, Inc. President Lynne Marie Finn

TelTech Communications, LLC Managing Partner Lisa Hanlon

The Coca-Cola Company Director of Supplier Diversity Johnnie Booker

The Home Depot Director, Supplier Diversity K. Michelle Sourie Johnson

Time Warner, Inc. Executive Director of Supplier Diversity Greta Davis

United Airlines Director, Supplier Diversity Ruby McCleary

UPS Director, Supplier Diversity Kathy Homeyer

Warrior Group, Inc. President & CEO Gail Warrior Lawrence

W. W. Grainger Manager, Supplier Diversity Nancy Conner

Wal-Mart Stores Vice President Global Indirect Sourcing Tonia Smith

Women’s Business Development Center – Florida President & CEO Nancy Allen

Women’s Business Enterprise Alliance Executive Director Susan Repka

Women’s Business Enterprise Council – Great Lakes President Michelle Richards

Women’s Business Enterprise Council – South President Blanca Robinson

Women’s Business Enterprise Council – PA-DE-sNJ President Geri Swift

Women’s Business Enterprise Council – Southwest President Debbie Hurst

Women Presidents’ Educational Organization President Marsha Firestone, Ph.D.

page 16

WBENC has 13 Regional Partner Organizations (RPOs), which are responsible for managing and implementing the process and procedures maintaining WBENC’s Gold Standard certification at the regional level. In addition, each RPO is also responsible for providing WBENC Corporate Members with access to WBENC certified WBEs in response to the companies’ procurement needs and providing skill-building programs to enable the success of WBENC certified WBEs.

ASTRA Women’s Business Alliance Leadership Council Delegate: Diane J. McClelland Program Manager: Suzanne Lackman 5 Centerpointe Drive, Suite 400 Lake Oswego, OR, 97035-8620 www.astrawba.org

Center for Women & Enterprise Leadership Council Delegate: Susan Rittscher Program Manager: Ryan Price 24 School Street, 7th floor Boston, MA, 02108 www.cweonline.org

Georgia Women’s Business Council Leadership Council Delegate: Roz Lewis Program Manager: Sharon Judge 1201 Peachtree Street, 400 Colony Square, Suite 200 Atlanta, GA, 30361 www.gwbc.biz

Women’s Business Enterprise Council – Great Lakes Leadership Council Delegate: Michelle Richards Program Manager: Pamela Smith 2002 Hogback Road, Suite 12 Ann Arbor, MI, 48105 www.miceed.org

Women’s Business Council – Southwest Leadership Council Delegate: Debbie Hurst Program Manager: Erica Williams 2201 North Collins, Suite 158 Arlington, TX, 76011 www.wbcsouthwest.org

Women’s Business Development Center – Chicago Leadership Council Delegate: Carol Dougal Hedy Ratner, Co-President Program Manager: Deon Crayton 8 South Michigan, 4th Floor Chicago, IL, 60603 www.wbdc.org

Women’s Business Development Center – Florida Leadership Council Delegate: Nancy Allen Program Manager: Lisa Roblejo 11205 South Dixie Highway, Suite 101 Pinecrest, FL, 33156 www.womensbusiness.info

Women’s Business Enterprise Council – PA-DE-sNJ Leadership Council Delegate: Geri Swift Program Manager: Sherri Nacci 1315 Walnut Street, Suite 1116 Philadelphia, PA, 19107-4711 www.womenssbdc.org

Women’s Business Enterprise Alliance Leadership Council Delegate: Susan Repka Program Manager: Mariela Hernández 1900 North Loop West, Suite 270 Houston, TX, 77018-8100 www.wbea-texas.org

Women’s Business Enterprise Council – West Leadership Council Delegate: Pamela Williamson, Ph.D. Program Manager: Nicole Davis 840 E. McKellips Road, Suite 107 Mesa, AZ, 85210 www.wbec-west.org

Women’s Business Enterprise Council – South Leadership Council Delegate: Blanca Robinson Program Manager: Evelyn King 400 Poydras Street, Suite 1730 New Orleans, LA, 70130 www.wbcGulfCoast.org Women Presidents’ Educational Organization – DC Leadership Council Delegate: Liz Cullen Program Manager: Liza Avruch 1250 Connecticut Avenue, NW, Suite 200 Washington, DC, 20036 www.wpeo.us Women Presidents’ Educational Organization – NY Leadership Council Delegate: Marsha Firestone, Ph.D. Program Manager: Lauren Walker 155 E. 55th Street, Suite 4H New York, NY, 10022 www.wpeo.us

reGionaL Partner orGaniZations

page 17

The Leadership Council is comprised of executives from the 13 Regional Partner Organizations (RPOs). The RPOs are responsible for managing and implementing the process and procedures maintaining WBENC’s Gold Standard certification at the regional level. In addition, each RPO is also responsible for providing WBENC Corporate Members with access to WBENC certified WBEs in response to the companies’ procurement needs and providing skill-building programs to enable the success of WBENC certified WBEs.

The Leadership Council provides a forum for discussion; serves as a creative hub for sharing ideas; and initiates policy recommendations to be considered by WBENC and the Board of Directors.

Michelle Richards President Women’s Business Enterprise Council – Great Lakes

Roz Lewis Executive Director Georgia Women’s Business Council

Diane McClelland President Astra Women’s Business Alliance

Pamela Williamson, Ph.D Executive Director Women’s Business Enterprise Council – West

Debbie Hurst President Women’s Business Council – Southwest

Geri Swift President Women’s Business Enterprise Council – PA-DE-sNJ

Carol Dougal Co-President Women’s Business Development Center – Chicago

Marsha Firestone, Ph.D. President Women Presidents’ Educational Organization – NY

Nancy A. Allen President & CEO Women’s Business Development Center – Florida

Susan Repka Executive Director Women’s Business Enterprise Alliance

Blanca Robinson Executive Director Women’s Business Enterprise Council – South

Susan Rittscher President & CEO Center for Women & Enterprise

Liz Cullen Executive Director Women Presidents’ Educational Organization – DC

LeadershiP counciL

page 18

Officers

Nancy Williams, Chair Principal ASAP Norcross, GA

Holli Dorr, Vice Chair President Hollister Construction Company Anaheim, CA

Governing Group Members

Tara Abraham CEO Accel Inc. Lewis Center, OH

Sharon Avent President & CEO SMEAD Manufacturing Company Hastings, MN

Alta Baker President & CEO Safe Haven Enterprises, LLC. Jennings, LA

Anisa Balwani President RCI Technologies Iselin, NJ

Sarah Bates President/CEO New Technology Steel, LLC Detroit, MI

Himanshu Bhatia CEO Rose International, Inc. Chesterfield, MO

Rebecca Boenigk CEO/Chairman of the Board Neutral Posture, Inc. Bryan, TX

Michelle Boggs CEO McKinley Marketing Partners Alexandria, VA

Jo Ann Brumit CEO Karlee Company, Inc. Garland, TX

Billie Bryant President/CEO CESCO, Inc. Dallas, TX

Sharon Burton President/CEO Robart Transportation, Inc. Duluth, GA

Mary Cantando Growth Expert WomanBusinessOwner.com Raleigh, NC

Sharon Castillo Principal SB Services, Inc. Grayslake, IL

Julie Copeland President & CEO Arbill Philadelphia, PA

Linda Coughlin President Metro-Home NYC, LLC New York, NY

Janet Crenshaw-Smith President Ivy Planning Group Rockville, MD

Marsha Davidson President Telecopy, Inc. Dallas, TX

Nina Eisenman President Eisenman Associates, Inc. New York, NY

Sharon Evans CEO CFj Manufacturing Fort Worth, TX

Lynne Marie Finn President & CEO Superior Staff Resources, Inc. Williamsville, NY

Peg Fitzpatrick President PMG, Inc. Blue Bell, PA

Barbara Goldman CEO BG Strategic Solutions, LLC Atlanta, GA

Margarita Gonzalez President AccuBanker Miami, FL

Ellie Halter CEO/President Schnipke Engraving Co., Inc. Ottoville, OH

Mary Kay Hamm President DFA Management Wellington, FL

Forum Governing Group Members

Women’s enterPrise LeadershiP forum

The Women’s Enterprise Leadership Forum (Forum) represents women’s business enterprises (WBEs) and provides insight into the needs and challenges of the women business owners certified by WBENC. The mission of the Forum is to promote, translate and advocate the national needs, issues and benefits of certification for WBEs. All certified WBEs are considered to be members of the Regional Forum of their Regional Partner Organization and may participate in training classes, regional procurement fairs and other events.

WBEs are appointed to the national Forum by their certifying Regional Partner Organization or a corporation with which they do business. The national Forum has two sections: the Governing Group and the Forum-At-Large.

The Governing Group Forum members serve on WBENC Board committees and provide practical information and policy recommendations to these committees and the Board of Directors. Nine members of the national Forum Governing Group serve on the WBENC Board of Directors, representing all WBEs.

page 19

Lisa Hanlon Managing Partner Teltech Communications Edwards, CO

Kayhan Hellriegel CEO Kayhan International Ltd. Schaumburg, IL

Terri Hornsby President TLC Adcentives, LLC Houston, TX

Jean Johnson President & CEO LegalWATCH Houston, TX

Marlene Kelly President & CEO Exhibits South Corp. Lawrenceville, GA

Patricia Kelly President & CEO Limerick, Inc. Burbank, CA

Ella Koscik CEO MDI Norcross, GA

Carolyn LaHousse President/CEO Review Works Farmington Hills, MI

Linda Laino CSEP & CEO Festive Productions, Inc. Farmingdale, NY

Mercedes LaPorta President Mercedes Electric Supply, Inc. Miami, FL

Joan Lasselle President Lasselle-Ramsay, Inc. Mountain View, CA

Dawn Magnan President n8 Solutions Houston, TX

Olsa Martini President/CEO OLSA Resources, Inc. Aloha, OR

Terri McNally President Global Captial, Ltd. Grayslake, IL

Fran Mills Owner Cajun Treats/Bravo Collection Jennings, LA

Nancy Mobley President Insight Performance Dedham, MA

Nancy Murphy President J & J Exhibitor Service, Inc. Chicago, IL

Sharon Olzerowicz President/CEO Matrix Information Consulting, Inc. Rochelle Park, NJ

Pamela O’Rourke President & CEO ICON Information Consultants, LP Houston, TX

Roxann Patrick President Designed Solutions Group, Inc. Centerville, OH

Janice Pellar President EMCO Technologies Baton Rouge, LA

Sue Pistone CEO & President Sue Pistone & Associates Houston, TX

Ranjini Poddar President Artech Information Systems LLC Cedar Knolls, NJ

Kanchana Raman President Avion Systems Roswell, GA

Connie Rankin President & CEO Customized Real Estate Services, Inc. Houston, TX

Patricia Rodriguez-Christian President CRC Group Dallas, TX

Cassandra Sanford CEO Kelly Mitchell Group, Inc. St. Louis, MO

Hallie Satz CEO HighRoad Press LLC New York, NY

Leslie Saunders President and CEO Leslie Saunders Insurance Agency, Inc. Charlottesville, VA

Andrea Schrager President Meadowlands Consumer Center Marketing Research, Inc. Secaucus, NJ

Cheryl Snead President/CEO Banneker Industries, Inc. North Smithfield, RI

April Stremming President & CEO April’s Images & Productions Mesa, AZ

Annette Taddeo President/CEO LanguageSpeak, Inc. Miami, FL

Gail Warrior-Lawrence President & CEO Warrior Group, Inc. Desoto, TX

Kathy White CEO Business Interiors Irving, TX

page 20

2008 corPorate memBers

Accenture

Acxiom Corporation

Adecco USA, Inc.

ADP

Administaff

AEG

Aetna, Inc.

Aflac

Ahold USA

AIG

Alcatel-Lucent

Allergan, Inc.

Allstate

Altria Group

Amdocs, Inc.

American Airlines

American Cancer Society

American Electric Power

American Express

American Family Mutual Insurance

American Red Cross

Amtrak

Anheuser-Busch Companies

Apple, Inc.

Archer Daniels Midland Co.

Armstrong World Industries

Asurion

AT&T

Avaya

Avis Budget Group

Avon

AXA Equitable Life Insurance Co.

Bank of America

BBDO New York

Blue Cross Blue Shield Association

Blue Cross Blue Shield/MA

BMC Software

BNSF Railway Company

Boeing Company

Boyd Gaming Company

BP America

Bright Horizons Family Solutions

Bristol-Myers Squibb Company

Broadlane, Inc.

Brocade Communications

Burger King Corporation

CA, Inc.

Campbell Soup

Capital One Financial

Cargill

CB Richard Ellis

(formerly Trammel Crow Company)

CDW

CIGNA

CenterPoint Energy

Chevron Corporation

Chrysler, LLC

Cisco Systems, Inc.

Citgo Petroleum Corporation

CitiGroup

Citizens Bank

Clorox Corporation

CNA Financial Corporation

Coca Cola Enterprises

Colgate-Palmolive Company

Communications Test Design

ConAgra Foods

Continental Airlines, Inc.

Coors Brewing Company

Corporate Express

County of Fairfax

Covidien

Credit Suisse

CSX

Cummins, Inc.

CVM Solutions

CVS/Caremark RX

Darden Restaurants

Dell Computer Corporation

Deloitte Services LP

Delphi Corporation

Delta Air Lines, Inc.

Designtex

Deutsche Bank

DHL

Dun & Bradstreet

Eastman Kodak Company

Eaton

EDS

EMC Corporation

Energy East

Energy Future Holdings

Enterprise Rent-A-Car

Ericsson, Inc.

Ernst & Young, LLP

Exelon

Express Scripts, Inc.

Exxon Mobil Corporation

Fannie Mae

FedEx

Ferguson Enterprises

Fidelity Employer Services Company LLC

Fiserv

Fluor

Ford Motor Company

Genentech

General Electric

General Mills

General Motors Corporation

Georgia-Pacific Corporation

GMR Marketing LLC

Goldman Sachs

GSD&M Idea City

Halliburton

Hallmark Cards, Inc.

Harley-Davidson, Inc.

Harrah’s Entertainment

Haworth, Inc.

Health Care Service

HealthTrust

Hewlett-Packard Company

Hilton Hotels

Home Depot

Honda of America Mfg, Inc.

HSBC

Humana, Inc.

IAP Worldwide Services, Inc.

IBM

Interface Americas

Interpublic Group

JCPenney Company

Johnson & Johnson

Johnson Controls

Jones Lang LaSalle

JP Morgan Chase & Company

Kaiser Permanente

Kellogg Company

Kelly Services, Inc.

Kimberly-Clark Corporation

Kohl’s Department Stores

KPMG LLP

Kraft Foods

Lehman Brothers

Limited Brands

Lockheed Martin Corporation

Loomis Sayles & Company

Mack Trucks, Inc.

Macy’s

Major League Baseball

Manpower, Inc.

Marathon Oil Company

Marriott International

MassMutual Life Insurance

MasterCard Worldwide

Mars North America

McAfee, Inc.

McCain Foods

McKinsey & Company

MWV (MeadWestvaco)

MedAssets Supply Chain

MEI

Merck & Co.

Merrill Lynch

Metavante

MetLife

MGM Mirage

Michelin North America

Microsoft Corporation

Milwaukee Public Schools

Monsanto Company

Morgan Stanley

Motorola

MSD

National City Corporation

Nationwide

Network Appliances

New York Life Insurance

Nike

Northeast Utilities

Novation

Novo Nordisk

O.C. Tanner Company

Office Depot

Office Max

Oracle USA

Pacific Gas & Electric Co.

PepsiCo, Inc.

Pfizer Inc

Pitney Bowes

Premier, Inc.

PricewaterhouseCoopers

Principal Financial

ProcureStaff, Ltd.

Procter & Gamble

Prudential

Raytheon Company

Realogy

Regions Financial Corporation

Regulus

Reliant Energy

Robert Half International, Inc.

Roche

Rockwell Automation

R.R. Donnelley

Ryder

Safeway, Inc.

Sandia National Laboratories

Sara Lee Corporation

SAS Institute

SBTV

SC Johnson

Schering-Plough

Schneider Electric

Sears Holding Company

Shell Oil Company

Smurfit-Stone Container Corp.

Sodexo, Inc.

Sonnenschein Nath &

Rosenthal

Spherion

SprintNextel Corp.

Staples

Starwood Hotels & Resorts Worldwide

State Farm Insurance Companies

Steelcase, Inc.

SUPERVALU, Inc.

Target Corporation

Telcordia Technologies

Textron

The Coca-Cola Company

The Haskell Company

The Kroger Co.

The World Bank Group

Time Warner

TJX Companies

Toyota Motor Engineering & Manufacturing NA, Inc.

Toyota Boshuku America

Tyco International, Inc.

UBS Investment Services

Unisys

United Airlines

United Parcel Service

United Rentals

U.S. Bank

U.S. Postal Service

Verizon Communications

ViaShow

Volvo Trucks North America, Inc.

W.W. Grainger, Inc.

Wachovia

Walgreens

Wal-Mart Stores, Inc.

Washington Group Int’l.

Washington Mutual, Inc.

Waste Management, Inc.

Watson Wyatt & Company

Weil, Gotshal and Manges LLP

WellPoint, Inc.

Wells Fargo & Co.

Windstream

Wisconsin Energy Corp.

Wyndham Worldwide Corp.

Xcel Energy

Yum Brands!

*New 2008

Members are underlined

** WBENC Board

Members are in bold

page 21

2008 WBenc staff

Linda Denny President and CEO

Lynn Grossman Quinn (Pictured on back row)

Chief Operating Officer

Steven Sudler Acting Chief Information Officer

Susan Prado Vice President, Alliance Relationships

Cristy McCullough Assistant Vice President Marketing & Communications

Brad Upham Controller

Betty Cole Senior Director of Programs

Heather Herndon Wright Senior Director, Affiliate Relations

Marjorie Moore (Not Pictured) Sr. Director, Development & Communications

Paige Adams Director of Development & Corporate Relations

Candace Waterman Director of Compliance

Alison Roebuck (Not Pictured) Director of Project Administration

Jason Moore Information Technology Manager

Alice Spears Office Manager

Kim Jones Corporate Membership Services Manager

Elsie Gomes (Not Pictured) Program Manager

Taresa McDowell (Not Pictured) Human Resources Administrator

Marjohn Heath Executive Assistant to Linda Denny

Samantha Stipp Accounting Assistant

Susan Cates Affiliate Relations Coordinator

Aditi Dussalt, (Pictured on 3rd Row) Certification Consultant

page 22

WBENC would like to thank Chevron for its sponsorship of the 2008 Annual Report.

1120 Connecticut Avenue NWSuite 1000

Washington, DC 20036202-872-5515 (v)202-872-5505 (f )www.wbenc.orginfo@wbenc.org

This 2008 Annual Report was produced and printed by WBENC certified firms.

Graphic Design by Doubletake Studios, Inc.

Printing by Bayside Printing, Inc.